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    14-Unit Student Housing Investment Title is generated by Realmo AI

    112 Groton Avenue, Cortland, NY 13045

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    For Sale
    $2,950,000

    MULTI_FAMILY - Cortland, NY

    Property size:
    11,520 SF
    Lot size:
    1.16 Acres
    Price / SF:
    $256/SF
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for 112 Groton Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    14
    Rooms
    Bedroom 12, Bedroom 9, Bedroom 1, Bedroom 6, Bedroom 4, Bedroom 3, Bedroom 13, Bedroom 14, Basement, Bedroom 10, Bedroom 2, Bedroom 7, Bedroom 11, Bedroom 5, Bedroom 8
    Parking features
    Driveway, Garage
    Patio and Porch features
    Porch, Deck
    Interior features
    CeilingFans, Storage
    Exterior features
    BlacktopDriveway, Deck
    Appliances
    ExhaustFan, ElectricOven, ElectricRange, GasWaterHeater, Microwave, Refrigerator, RangeHood
    Standard status
    Active
    APN
    110200-086-049-0004-050-000-0000
    Size
    11,520 SF
    Lot size
    1.16 Acres

    Taxes and HOA fees

    Tax Annual Amount
    46182

    Utilities

    Heating system
    Radiant, Hot Water(Heating), Natural Gas
    Water source
    Public

    Building Details

    Year built
    2009
    Floors in Building
    2
    Number of units
    14
    Flooring type
    Vinyl, Carpet, Tile, Varies
    Building materials
    Frame, VinylSiding
    Roof type
    Shingle, Asphalt
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Dana Decker

    Listing agent Dana Decker License #10491206226

    Listing office Berkshire Hathaway HomeServices Heritage Realty 7 James St. Dana Decker, Homer, NY

    Listing date Jun 1, 2026

    MLS# S1686697 Listing URL

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 14‑unit student housing investment property with 42 bedrooms; potential to expand to 44 bedrooms
    • Centerpiece 10‑unit building constructed in 2009 with ten 3‑bedroom apartments
    • Two additional structures built between 2014 and 2015: a side‑by‑side duplex (3BR/1.5BA) plus two more 3‑bedroom units and a rental office
    • Five common laundry areas with coin‑operated machines included in the sale
    • 42 on‑site parking spaces with maintained striping and lighting
    • Tenants’ units feature full baths with double‑sink vanities, plus ceiling fans and in‑unit storage; heating includes radiant and hot water (natural gas)

    Overview

    112 Groton Avenue is a well-maintained 14-unit investment property configured for student housing, offering a total of 42 bedrooms with potential to expand to 44. The centerpiece of the portfolio is a 10-unit building constructed in 2009, featuring ten three-bedroom apartments with functional layouts, large living rooms, eat-in kitchens with dining areas, and full bathrooms with double-sink vanities. Built-in closet shelving is provided throughout for added storage and convenience.

    Two additional structures support the main building, developed between 2014 and 2015. One structure is a side-by-side duplex with three-bedroom, one-and-a-half-bath units, expansive living spaces, and kitchens with breakfast bars and dining areas. Bedrooms are positioned on the first floor, with half baths on that level and full baths on the second level. The third building provides two additional three-bedroom units and includes a dedicated rental office, storage space, and a garage with an overhead door suited for maintenance equipment and property operations.

    Residents have access to five common laundry areas with coin-operated machines included in the sale. The property also offers 42 on-site parking spaces with ample lighting and maintained striping. Located just a short distance from SUNY Cortland and the shops, restaurants, and amenities of downtown Cortland, the asset is positioned for operators seeking a turnkey, professionally managed student housing portfolio.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Suites Apartment Complex

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cortland
    County
    Cortland
    State
    New York
    Longitude
    -76.189622
    Latitude
    42.601471

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    FAQs

    What type of property is this?
    Apartment building - Professionally managed 14-unit portfolio near SUNY Cortland with three-bedroom layouts, parking, and common laundry.
    Where is this apartment building located?
    The property is located at 112 Groton Avenue Cortland, NY.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: 14‑unit student housing investment property with 42 bedrooms; potential to expand to 44 bedrooms; Centerpiece 10‑unit building constructed in 2009 with ten 3‑bedroom apartments; Two additional structures built between 2014 and 2015: a side‑by‑side duplex (3BR/1.5BA) plus two more 3‑bedroom units and a rental office
    (607) 423-4719
    We can help!
    Listing Contact
    Dana Decker
    Real Estate License ID: 10491206226
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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